BEIJING, Aug. 29, 2022 (GLOBE NEWSWIRE) -- Uxin Limited (“Uxin” or the “Company”, together with its subsidiaries, the “Group”) (Nasdaq: UXIN), a leading e-commerce platform for buying and selling used cars in China, today announced that it has issued 36,699,029 Class A ordinary shares, par value US$0.0001 per share, of the Company (equivalent to approximately 12,233,010 American Depositary Shares (“ADSs”)) to ClearVue Uxin Holdings, Ltd (“ClearVue”) in exchange for the full release of the Company’s obligations under the convertible promissory note issued to ClearVue on June 10, 2019 (such note, as amended, the “ClearVue Note”) in an aggregate principal amount of US$12.6 million. These shares were issued at a price equivalent to US$1.03 per ADS. The ClearVue Note was extinguished upon such issuance of shares.
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